Contents

Dr. Khalid Alsweilem https://www.belfercenter.org/person/khalid-alsweilem..............................2

Introduction..................................................................................................................................2

Dr. Khalid Alsweilem relation with Sovereign wealth fund.......................................................3

Malan Rietveld https://projects.iq.harvard.edu/sovereignwealth/people/malan-rietveld................4

Introduction..................................................................................................................................4

Malan Rietveld relation with Sovereign Wealth Funds...............................................................4

Angela Cummine https://www.linkedin.com/in/angela-cummine-0a559213/................................5

Relation with SWFs.....................................................................................................................5

Veljko Fotak https://www.buffalo.edu/news/experts/veljko-fotak-faculty-expert-stock-

market.html......................................................................................................................................6

Edwin M. Truman https://www.piie.com/experts/former-research-staff/edwin-m-truman............7

Edwin M. Truman role in Sovereign wealth funds......................................................................7

Richard Rollinshaw https://www.pwc.com/gx/en/contacts/r/richard-m-rollinshaw.html...............7

Richard Rollinshaw works on SWFs...........................................................................................8

Eric Janson https://www.consulting.us/news/8183/pwc-appoints-eric-janson-as-global-private-

equity-leader....................................................................................................................................9

Relation with SWFs.....................................................................................................................9

Jan Muysken https://www.linkedin.com/in/jan-muysken-1860b6a/?originalSubdomain=au.......10

Relation with SWFs...................................................................................................................10

Ben Moore https://www2.deloitte.com/gz/en/profiles/benmoore.html.........................................11

Relation with SWFs...................................................................................................................11

Simon Johnson https://network.expertisefinder.com/experts/simon-johnson...............................12

Michael Maduell https://www.linkedin.com/in/sovereignwealthfund/.........................................13

Relation with SWFs...................................................................................................................14

Diego López https://www.linkedin.com/in/globalswf/..................................................................15

Relation with SWFs...................................................................................................................15

 Dr. Khalid Alsweilem https://www.belfercenter.org/person/khalid-alsweilem

Introduction

Dr. Khalid Alsweilem is the former Chief Counselor and Head of Investment at the Saudi

Arabian Monetary Agency (SAMA). He joined SAMA in 1991 after completing a two-year post

doctoral fellowship at Harvard University’s Department of Economics. The fellowship research

focused on a portfolio theory approach to public finance in Saudi Arabia. Before that, he

completed his Masters and PhD degrees in economics (public enterprises, public finance, and

industrial organizations) at Boston University and the University of Colorado at Boulder. He

received a Bachelor of Science degree in industrial engineering from the University of Arizona

(Carter, 2009).

Dr. Alsweilem began his work at SAMA as an advisor in the Investment Department, and

two years later became the Head of Investment Management (Chief Investment Officer). In

2002, he was promoted to become the Director General of the Department, in addition to his

responsibility as the Chief Investment Officer, managing the country's vast foreign assets.

According to Dr. Alsweilem, the Investment Department at SAMA was able to manage risk

effectively through prudent investment and efficient diversification among global currencies and

instruments, with performance exceeding most sovereign funds. The Investment Department, he

says, “managed to successfully overcome both the 1998 Asian crisis and the 2008 global

financial crisis, to become by the end of 2012 the third largest holder of reserves after Japan and

China, and the largest among all sovereign funds in the world.” He is one of the longest-serving

and most successful sovereign investment practitioners, having held senior investment positions

at SAMA for over two decades.

Dr. Khalid Alsweilem relation with Sovereign wealth fund

Dr. Khalid Alsweilem was responsible for the implementation of SAMA's monetary

policy operations to ensure banking sector system liquidity and the strength and stability of the

Saudi local currency. Additionally, since the start of the Sovereign rating process in Saudi Arabia

more than ten years ago, Dr. Alsweilem was responsible for coordinating the country's efforts

with major international rating agencies to highlight the Kingdom's financial strength and its

social and political stability, resulting in the Kingdom of Saudi Arabia obtaining a distinguished

high sovereign rating in the AA category.

In addition to his non-resident affiliation with Harvard Kennedy School’s Belfer Center,

Dr. Alsweilem is a board/investment committee member with several institutions. He is

chairman of Ashmore Investment Saudi Arabia; an independent board member at Fajr Capital; a

board member at Al Ra'edah Investment; and an investment committee member at the Arab Gulf

Fund for Development (AGFUND). He is also Global Sovereign Wealth Funds (SWF) Advisor

with Price Waterhouse Cooper (PWC).

At the Belfer Center, Dr. Alsweilem focuses on the study of sovereign wealth funds, with

a particular focus on Saudi Arabia’s reserve sovereign funds and their linkages to the real

economy. Dr. Alsweilem’s research at the Belfer Center complements the theoretical work he

did at Harvard’s Department of Economics on portfolio theory approach to public finance in

Saudi Arabia and its application to the work he did at SAMA during the past 20 years.

Dr. Alsweilem was a lead author for three recent papers on sovereign funds models and

institutions. Completed in April 2015, these include a report specific to Saudi Arabia

titled A Stable and Efficient Fiscal Framework for Saudi Arabia: The Role of Sovereign Funds in

Decoupling Spending from Oil Revenue and Creating a Permanent Source of Income. The three
publications were published as joint reports by the Belfer Center for Science and International

affairs and the Center for International Development (CID) (Alsweilem, Cummine, Rietveld &

Tweedie, 2015).

Malan Rietveld https://projects.iq.harvard.edu/sovereignwealth/people/malan-rietveld

Introduction

Malan Rietveld is the Director of the Investment Institute. His focus is on policies

towards investment around the extractive industries, including resource-related infrastructure,

foreign direct investment, and the management of resource revenues. Previously, he worked in

the Emerging Market Debt team at Investec Asset Management and was involved in the firm’s

advisory work with central banks and sovereign wealth funds. Prior to that, he worked at Central

Banking Publications and the Official Monetary and Financial Institutions Forum in London.

Malan Rietveld relation with Sovereign Wealth Funds

He is the editor of three books on sovereign wealth funds: Sovereign Wealth Management (with

Jennifer Johnson-Calari), New Perspectives on Sovereign Asset Management and Sovereign

Risk Management. Malan holds an M.Sc in Economics from the University of Leuven and an

M.Sc in Economic History from the London School of Economics. He is currently completing

his PhD in Economics from the University of Stellenbosch on the topic of sovereign wealth

funds. Malan is a Fellow at the Center for International Development at Harvard Kennedy

School and a Fellow of the Columbia Center for Sustainable Investment at Columbia University.

He has advised several sovereign wealth funds on governance, management, and strategic issues

(Alsweilem, Cummine, Rietveld & Tweedie, 2015).

 Angela Cummine https://www.linkedin.com/in/angela-cummine-0a559213/

Relation with SWFs

Dr. Cummine is a British Academy Postdoctoral Fellow at the University of Oxford

where she completed a doctorate on Sovereign Wealth Funds (SWFs), identifying principles for

their proper management, investment, and distribution. Her post-doctoral research focuses on the

governance of and democratic rights to state-owned financial entities. She served as a consultant

to the Investec Investment Institute in 2014.

Prior to this, she worked at the Official Monetary and Financial Institutions Forum

(OMFIF), as co-editor of the Global Public Investor 2014, a new worldwide publication on

public sector asset management at official institutions. During her doctoral studies, she worked

as a consultant to the inaugural Chairman of the Australian Future Fund and the International

Forum of Sovereign Wealth Funds (IFSWF) on the fair treatment of SWFs, the OECD (Paris

office) on international investment issues and Institutional Investor’s Sovereign Wealth Centre as

an SWF analyst. She commenced her career in the Australian Department of the Prime Minister

and Cabinet as a policy advisor to the Prime Minister’s office.

Angela holds a Ph.D. and Masters’ (with Distinction) in Political Theory from the

University of Oxford where she was a Rhodes Scholar and Jenkins Memorial Scholar. She holds

a 1st Class Honours BA LLB from the University of Sydney and is an admitted lawyer in the

Supreme Court of NSW (2007). Angela Cummine has been interviewed for Qatar Today (7

June) to discuss the implications for Gulf Cooperation States, particular Qatar, of the recent
slump in oil prices, and particularly whether they need to liquidate their Sovereign Wealth Fund

investments in order to pay for the running of their countries.

She told Qatar Today that “in the first half of 2015, Saudi Arabia, the world’s largest oil

exporter, is estimated to have pulled out between $50-70 billion from various asset managers in

response to around $73 billion being wiped off its foreign reserve assets since the oil price slide

started. A large chunk of those assets has been redirected back into the budget to help cover the

country’s enormous public expenditure commitments, the highest in the Gulf region.”

Veljko Fotak https://www.buffalo.edu/news/experts/veljko-fotak-faculty-expert-stock-

market.html

Veljko’s research is focused on international corporate finance, with a particular

emphasis on state capitalism, sovereign wealth funds, and, in broader terms, on the impact of

government ownership on firm behavior, performance, and valuation. Veljko’s research has been

published in leading academic journals, including the Journal of Financial Economics and the

Review of Financial Studies, and has been cited in The Wall Street Journal, the Financial Times,

the New York Post, Bloomberg, and other media outlets. Veljko teaches courses on corporate

finance and international financial management for both undergraduate and graduate students.

Veljko earned a BS degree in Business Administration, an MBA with a concentration in Finance

and an MS in Applied Statistics at the Rochester Institute of Technology, in Rochester, NY, and

a Ph.D. in Finance at the University of Oklahoma.

Edwin M. Truman https://www.piie.com/experts/former-research-staff/edwin-m-truman

Edwin M. Truman was associated with the Peterson Institute for International Economics

from 2001 to 2020. He joined the Institute as a senior fellow and was nonresident senior fellow

from July 2013 through December 2020 when he resigned. He was appointed as a senior fellow

of the Mossavar-Rahmani Center for Business and Government at Harvard's Kennedy School for

2021. Previously he served as assistant secretary of the US Treasury for International Affairs

from December 1998 to January 2001 and returned as counselor to the secretary March–May

2009. He directed the Division of International Finance of the Board of Governors of the Federal

Reserve System from 1977 to 1998.

Edwin M. Truman role in Sovereign wealth funds

Truman has also been a visiting economics lecturer at Amherst College and a visiting

economics professor at Williams College. He has published on international monetary

economics, international debt problems, economic development, and European economic

integration. He is the author, coauthor, or editor of Sovereign Wealth Funds: Threat or

Salvation? (2010), Reforming the IMF for the 21st Century (2006), A Strategy for IMF

Reform (2006), Chasing Dirty Money: The Fight Against Money Laundering (2004),

and Inflation Targeting in the World Economy (2003).

 Richard Rollinshaw https://www.pwc.com/gx/en/contacts/r/richard-m-rollinshaw.html

Richard Rollinshaw is a Global Sovereign Investment Fund Leader, PwC United

Kingdom. He is a London-based partner with over 20 years focused on the Deals platform.

Having started his career in London he has twice been on secondment - once to the US West

Coast (1999-2001) and once to the Middle East (2008-2016).

Richard Rollinshaw works on SWFs

Richard as a Co-GCP on Mubadala Investment Company has worked extensively within

the SIF space since 2008 and visits Abu Dhabi regularly. His other client relationships include

CVC Capital Partners and Clayton, Dubilier & Rice. Over the last few years he has also worked

extensively with our Global Tax teams both as UK Tax COO and on the sale of our Global

Mobility business (Vialto Partners). Richard work with over 10,000 professionals that directly

serve our Sovereign Fund community and leverage PwC’s global community of over 320,000

multi-disciplinary solvers. The team continues to focus on leading the conversation within the

SIF community around Transformation, ESG and data driven Value Creation, underpinned by

best-in-class end-to-end global service coverage.

This is a transformational time for the SIF industry. As the competition for deals has

soared, all investors are being challenged to create sustainable value in their investment

portfolios. Richard brings decades of experience and exceptional insight in maximizing SIF

value for some of PwC’s biggest clients. Richard is intensely focused with Eric Janson network

on helping his SIF clients to both formulate their SIF strategies and then help them to implement

effectively, building trust and creating sustainable outcomes.

“SWFs and state-owned enterprises have used M&A to diversify their financial reserves,

invest in capturing technology within value chains in which they [have experience], such as
energy and petrochemicals, and development sectors, such as semiconductors and aerospace, that

will provide local employment and growth over the long term,” says Richard Rollinshaw, partner

at PwC in the UAE.

Eric Janson https://www.consulting.us/news/8183/pwc-appoints-eric-janson-as-global-

private-equity-leader

Relation with SWFs

New York, 22 September 2022 – PwC has announced the appointment of Eric Janson as

Global Private Equity, Real Assets and Sovereign Funds Leader. Eric will also continue his role

as a member of the US Private Equity Leadership Team. He takes over the global role from Will

Jackson-Moore, who has been appointed PwC’s Global ESG Leader. As PwC’s private equity

(PE) leader, Eric will coordinate and leverage over 23,000 global deals professionals in 22

territories across our network that serve across fund and portfolio companies. The team will

continue its focus on delivering successful, market leading approaches in digital and technology

transformation, value creation, and Environmental, Social and Governance capabilities (ESG) to

clients.

The appointment comes as PwC expands its focus on ESG for the PE and sovereign

investment fund (SIF) industry, increasing investment and adding resources to better enable

clients to integrate ESG into their strategies. PwC is a leader in advising PE firms and SIFs,

providing human-led, tech-powered, data driven solutions that build trust and deliver sustained

outcomes for clients globally.

 Kevin Burrowes, Global Clients & Industries Leader, PwC UK said: “We are

tremendously pleased to have Eric lead our global Private Equity, Real Assets, and Sovereign

Funds practice. This is a transformational time for the PE industry. As the price of deals has

soared, firms are more challenged to create value in their investment portfolios. Eric brings

decades of experience and exceptional insight in maximizing PE value for some of PwC’s

biggest clients. ESG is increasingly at the core of the value equation and Eric is intensely

focused with our team across the network on helping PE clients formulate their ESG strategies

and then helping them implement effectively, building trust and creating sustainable outcomes.”

Jan Muysken https://www.linkedin.com/in/jan-muysken-1860b6a/?originalSubdomain=au

Jan Muysken is an experienced professional advisor with over thirty year’s international

experience in professional services as a partner of a “big 4” professional services firm. Jan has

worked all over the globe and his current focus is on providing strategic business advice and

advising business leaders in Australia, Africa and the Middle East. This has enabled him to

develop an extensive global network and international contacts. Jan is very experienced in

solving complex business problems, adding value and helping businesses achieve their strategic

outcomes. Jan has also considerable experience in helping senior executives develop board room

proposals and business pitches. Jan has the ability and experience to navigate large and complex

organisations.

Relation with SWFs

Jan was for many years PwC’s Global Sovereign Investment/Wealth Funds Leader, a

member of the firm’s Global Financial Services Leadership Team and Global Markets
Leadership. He has developed an extensive global network and the ability to navigate large

complex organizations. As a senior partner with PwC, Jan has over thirty years of international

experience leading the teams responsible for the work that PwC performed at a number of the

world’s leading Sovereign Investment/Wealth Funds.

PwC’s Global Sovereign investment funds team brings insight, expertise and specialist

knowledge to provide world-class services to SWFs around the globe, particularly when

investing in real estate, infrastructure, and private equities. As market leader in professional

services for SWFs, Jan is a trusted advisors and help the clients in a range of matters such as

Investment Governance and Performance, Tax Risk Assurance and Operating Model Design

including People, Technology and Risk considerations. The Global Sovereign investment

funds leader acts as a catalyst linking lines of services, industry sectors and territories, with a

strong market profile and clear leadership from the competitors.

Ben Moore https://www2.deloitte.com/gz/en/profiles/benmoore.html

Relation with SWFs

Ben joined Deloitte in 1992 and in 2008 transferred from the UK to the Middle East

where he led the Valuation & Modelling team for nearly 13 years, driving the business to record

levels of growth. Ben currently leads the Middle East Sovereign Wealth (SWF) practice,

bringing local, regional, and global expertise to the region. Over the last 14 years, he has worked

with a number of the SWFs, supporting investments, transformations and leading a number of

strategic projects within the sector.

 Ben Moore, leader of Deloitte’s Middle East SWF team, says: “Many governments

around the world looked to their wealth funds to support their economies. Some policymakers

will be working closely with SWFs going forward, in an effort to strengthen their position post

COVID-19.” Last year, the governments of Qatar, Russia, Singapore and Norway each drew

down directly from their SWFs to stabilise public finances when deficits soared. Elsewhere,

funds have made investments to support coronavirus-stricken economies. In the UAE, Mubadala

Investment Company provided rent relief in the residential, office and hospitality sectors. In

Singapore, funds stepped in to recapitalise local firms.The Russian Direct Investment Fund was a

key investor in the national vaccine programme. They have been more focused on their own

domestic markets over the past year.

Simon Johnson https://network.expertisefinder.com/experts/simon-johnson

Simon Johnson, senior fellow from September 2008, was previously the International

Monetary Fund's Economic Counsellor and Director of the Research Department (2007–08). At

the IMF, Professor Johnson led the global economic outlook team, helped formulate innovative

responses to worldwide financial turmoil. He was also the first IMF chief economist to have a

blog. Professor Johnson is the Ronald A. Kurtz Professor of Entrepreneurship at MIT's Sloan

School of Management, a position he has held since 2004. His previous appointments include

Assistant Director in the IMF's Research Department (2004–06) and visiting fellow at the

Institute (2006–07). He is also a member of the FDIC's Systemic Resolution Advisory

Committee, the Congressional Budget Office's Panel of Economic Advisers, the private sector

systemic risk council founded and chaired by Sheila Bair in 2012 and cofounder of the website
BaselineScenario.com.

Relation with SWFs

Simon was among the first to propose new forms of engagement for sovereign wealth

funds. As in his book The Rise of Sovereign Wealth Funds, Johnson (2007) defined SWFs as

“assets held by governments in another country’s currency”. Foreign exchange reserves are

maintained by the Treasury or the Central Bank of a country for exigencies of imports, national

emergencies, and maintenance of stability of national currency. Although state enterprises and

public pension funds may own investments in foreign exchange, SWFs seek riskier investments

that offer a higher rate of return in foreign debt and equity markets. SWFs are also different from

sovereign holding companies that have a domestic orientation. SWF assets could be $3 trillion in

2007 and $10 trillion by 2012, reckons Simon Johnson, IMF research director. Whatever their

size, the huge piles of SWF money ready to be deployed across borders make some financiers

edgy.

His recent work is advising a sovereign wealth fund on the £678m, £230m and €118m

refinancings of its acquisitions of two trophy London office blocks and a large hotel in

Barcelona, Spain. Simon Johnson, the IMF’s chief economist, said sovereign wealth funds may

have played a stabilizing role in this summer’s financial market turmoil by stepping in to buy

assets when other investors froze.

Michael Maduell https://www.linkedin.com/in/sovereignwealthfund/

Maduell is sought out on his expertise on sovereign wealth funds, including institutional

investors in the Middle East and their influence on foreign policy. Under his leadership, SWFI
has grown dramatically in prestige, global reach, and clients. SWFI provides research,

intelligence and data to a variety of clients including: investment banks, asset managers, asset

owners, private equity firms, law firms, universities, governments, and corporations. Michael is

credited with bringing attention to sovereign wealth funds and public pensions to the forefront.

Among other inventions, Michael co-invented the Linaburg-Maduell Transparency Index. The

index is a method of rating transparency in respect to sovereign wealth funds.

Michael’s prolific research and the Institute’s data products have been referenced in

thousands of academic papers and respected journals, as well as appearing in prominent media

outlets. Michael has made a myriad of television appearances on channels such as CNBC, CNN,

BNN, and Bloomberg. He received his Master’s in Investment Management and Financial

Analysis from Saint Mary’s College (Moraga, CA) and a Bachelor’s in Finance and Risk

Management from California State University, Sacramento.

Relation with SWFs

Michael Maduell is the President of the Sovereign Wealth Fund Institute (SWFI), a

global organization dedicated to analyzing sovereign wealth funds, public pensions, public funds,

superannuation funds, central banks and other public funds. He has worked at the California

Public Employees' Retirement System (CalPERS) and Reuters. He founded the Sovereign

Wealth Fund Institute, also known as SWFI. Maduell is a leading researcher, commentator, and

advisor in the sovereign wealth fund, pension, and long-term institutional investor space.

Michael Maduell commented on Temasek Holdings advancement of acquiring energy

companies. He stated in CFO Insight, "This is a long-term investment in a major energy

company that is currently discounted due to the YPF nationalisation [Repsol’s subsidiary in

Argentina, eds.]." During the Libyan revolution, CNN Money interviewed Michael Maduell on
Gaddafi's influence on sub-Saharan Africa and Libya's sovereign wealth fund. Maduell argued

Gaddafi remained in power for so long because "Gadhafi is providing support where there is

none."

In 2013, policymakers and thinktanks were discussing ways to improve the U.S.

economy, leading to the idea of creating a federal sovereign wealth fund. Maduell told CNBC in

an article that creating a Norwegian-like wealth fund would trigger "a heated debate between the

federal government vs. state governments over resources," Maduell added. "The politics would

be paralyzing, which is why it hasn't been done yet." In 2016, Michael Maduell was quoted in

the LA Times saying, "Sovereign wealth funds are going to play a much bigger role now in

tech", said Michael Maduell, president of the Sovereign Wealth Fund Institute. "They have the

capital and are looking for the best returns".

Diego López https://www.linkedin.com/in/globalswf/

Diego earned his Master’s in Accounting in Finance from the London School of

Economics (LSE) after graduating in the Universities of Madrid and Milan. He is a FINRA-

registered rep with Series 62, 63 and 79. He is based in New York and is a prolific open water

and ice swimmer, having raced in all seven continents including Antarctica, acted as an

ambassador for the Ocean’s recovery and authored a book about the feat.

Diego López is the expert in Sovereign Wealth Funds and Public Pension Funds, with a

vast knowledge base and global network. Over 16 years serving and covering SWFs on the

ground in Europe, the Middle East, Far East and the Americas. LSE alumnus. Open Water and

Ice Swimmer. Book Author. Motivational Speaker. Globe Trotter (85/195).

Relation with SWFs

Diego López is the Founder and Managing Director of Global SWF, a consultancy and

data provider focused on Sovereign Wealth Funds and Public Pension Funds. Global SWF is a

Data Platform that tracks over 400 Sovereign Wealth Funds (SWFs) and Public Pension Funds

(PPFs) providing insights on the top 100 portfolios and personnel. During the past three years,

Global SWF has completed projects for the World Bank, for the United Nations and for the

Asian Development Bank; and supported the establishment and / or reformulation of several

Government funds around the world.

Prior to founding Global SWF, he spent five years building up PwC’s footprint in the

SWF industry as the Director & COO of the global practice, based in Abu Dhabi and New York,

and he also worked for KPMG, Accuracy and Santander. He has lived and worked in Europe, the

Middle East, China, Brazil, and the USA. Diego is a prominent alumnus of the London School of

Economics (LSE), where he sits on both the UAE and Global Committees, and a fellow of Tufts

University – SovereigNet and Bocconi University – Sovereign Investment Lab. SovereigNET is

a unique interdisciplinary network at Tufts University's Fletcher School dedicated to the study of

sovereign wealth management and its impact on global capital markets.

Diego is also a good advisor and always tell about SWFs things like ESG “If you ask an

SWF whether ESG is taken into account in their investment decision process, most of them will

say yes,” says Diego Lopez, managing director of industry data provider Global SWF. “But if

you dig deeper, you won’t find anything that refers to it in their books, criteria or public

materials.”